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GBP/USD finally did it – now above 1.62!

FXStreet (Moscow) - GBP/USD finally broke above 1.62, posting 1.6214 high, but retreating to current 1.6204.

Event or non-event?

The pair moved up posting weekly high at 1.6214, and finally settling above 1.62 without any particular reason. The looming BOE meeting may be one of the catalysts, as there are rumors in the market the rates will still rise in early 2015, despite the recent slowing of the growth pace. Since the pair is already above 1.62, the next strong barrier may be found around 1.6225/35, where strong sellers’ interest is noted.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6128, with support below at 1.6072, followed by 1.5977 and 1.5921 with resistance above at 1.6223, followed by 1.6279 and 1.6374. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.6137, and the daily 20EMA bearish at 1.6232. Hourly RSI is bullish at 71.

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